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Value Creation Blog

6 Reasons You Need To Define Your Reason For Being - niche

Posted by Josh Patrick

building-innovative-biz-480x480No, I’m not talking about why you exist on the planet. I’m talking about why your company exists. Too often we start a company because we have an idea. You might have done this yourself. When you first started you might even have thought for a little about what your reason for starting was. I bet that after a while you forgot all about this and just concentrated on getting stuff out the door.

With a reason you can get others to come along for the ride.

Until you have a reason to exist there really is no reason for others to get excited about joining you on your quest. I have a client who keeps going on about how his people should work really hard so they can make more money. He completely misses the point. If he doesn’t give his people a good reason to go along for the ride, they’ll do what they have to and no more.

You get a choice. If you want engaged employees you have to give them a reason for being excited. Before you can do that you need to define your reason for being and only you can do that.

Once you know why you exist it’s easy to figure out personas.

When you’ve figured out and written down why your company exists you now get to start working on the problems you solve for those who are your customers. If you don’t understand the problems that you solve, you can never create a value proposition that gets above average prices. If you don’t want to be a commodity you’re going to know exactly what problems you solve and how you go about doing this. Building personas is a good way to start.

When you build personas you start down the road to having a niche.

Once you have personas and know what problems you can solve for these people you’re on your way to building a niche. Let’s face it; niches are an easy way for others to figure out what you do. Niches are an easy way for you to become an expert. If you’re an expert, you’ll be efficient. If you’re efficient you’re going to deliver great service, get higher prices, and spend less time doing it.

When you know what your niche is you can start saying no.

If you’ve been reading my stuff for a while you know I have a love affair with the word no. It’s what allows you to say yes. Too many people you shouldn’t work with are asking you for assistance. If you don’t know what you do and who you do it for, you’ll never say no. Once you do and you realize how many people are out there you could say yes to, saying no becomes much easier.

When you start to say no, you start to find out who you can say yes to.

You might not believe this but I love to say yes. The issue is I want to say yes to the right people. That always starts with a good no. It’s not that I don’t want to help those who I say no to. I always have a better place for them to go. I just want to make sure I always have room to say yes to the right people. The ones I can really help.

You now have a good reason to exist.

You’ve done all the work above? Good, now you have a great reason to exist. You’re going to get others to come along for the ride. I can promise you one thing, you’re going to sleep better and have more fun. It’ll be worth it.

We have a special report on strategic marketing. Once you done the exercises in this post, you can read our report. It’ll help you develop who your best customer is and why. Now you know who you can say yes to and who you need to say no. To get this report, click on the button below.

case study on strategic marketing

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Topics: value creation, financial planning, niche

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